122:21-1-03
Application fee.

(A)
Upon certification by the director that the project
proposed by the applicant is a tax credit-eligible production, the director
shall issue the applicant an invoice for a non-refundable application fee in an
amount equal to one-half per cent of the estimated value of the credit, as
calculated in section four of the application, up to a maximum application fee
of ten thousand dollars.

(B)
The applicant shall pay the non-refundable fee within
forty-five days of the invoice date.

(C)
The applicant's
failure to pay the application fee within the timeframe proscribed above shall
result in rescission of the director's certification that the application is a
tax credit-eligible production.

(D)
An application
fee is due and payable for each production certified by the director as a tax
credit-eligible production and is not transferrable to any other or future
application or production.